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1 1 (August 20, 2020)

handle is hein.crs/govdbmr0001 and id is 1 raw text is: Gongesssoa Research Service Larger Businesses and COVID-19: Financial Relief and Assistance Resources Updated August 20, 2020 This CRS Insight presents selected resources and CRS products potentially relevant to medium and large businesses directly affected by the Coronavirus Disease 2019 (COVID-19) pandemic seeking economic relief and assistance. The Coronavirus Aid, Relief, and Economic Security (CARES) Act, enacted on March 27, 2020, contains provisions to assist businesses. This Insight focuses on potential sources of assistance designated for medium and large businesses that do not qualify for Small Business Administration programs or other assistance programs for small businesses. For small business assistance programs, see CRS Insight INI 1301, Small Businesses and COVID-19: Relief and Assistance Resources, by Maria Kreiser. Note that this Insight may not include every instance of federal assistance to medium or large firms provided in response to the COVID-19 pandemic. Selected Resources Department of Treasury The Treasury's Preserving Jobs for American Industry resource page describes two programs that provide federal grants, loans, or loan guarantees directly to select businesses affected by the COVID-19 pandemic-the Payroll Support Program and the CARES Act Loan Program. Both programs were announced on March 30, 2020. Payroll Support Program The Payroll Support Program benefits airline industry employees only, providing up to $25 billion for passenger air carriers, $4 billion for cargo air carriers, and $3 billion for airport contractors, including those that provide food, security, ticketing, and cleaning services to air carriers. The details of the assistance are outlined in four documents released April 2, 2020, April 3, 2020, April 20, 2020, and July 14, 2020. Applications were accepted online until April 27, 2020, and Treasury began providing payment data for individual recipients on May 12, 2020. Congressional Research Service https://crsreports.congress.gov IN11368 CRS INSIGHT Prepared for Members and C om m ittees of C onqress ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------